New york: Gold prices declined today as the US dollar held near a six-month high and expectations for a Federal Reserve interest rate cut in December receded. Spot gold fell 0.3% to $4,051.48 per ounce, while December futures edged up 0.7% to $4,049.50 per ounce.

According to Oman News Agency, the movement in gold prices reflects the current strength of the US dollar, which has maintained its position near a six-month high. This development comes as market participants reassess their expectations regarding potential interest rate cuts by the Federal Reserve, with the likelihood of such a move in December appearing to recede.

In the broader precious metals market, other commodities showed varied performances. Spot silver slipped by 0.3% to $49.86 per ounce, while platinum saw an increase of 1.1% to $1,527.25 per ounce. Palladium also experienced a rise, increasing by 0.7% to $1,384.18 per ounce.